Brazil’s Largest Bank Launches Bitcoin Trading to Its 60M Customers

Bitcoin

As the largest bank in Latin America, the adoption of bitcoin trading could influence other banks around the world to consider a similar strategy  

Brazil’s largest bank, Itaú Unibanco, has launched bitcoin (BTC) trading for its 60 million customers. This means users can now buy, sell, and hold the crypto asset directly through the bank’s online platform and mobile app.   

The bank’s decision to offer bitcoin trading services reflects a significant trend of the growth, acceptance, and integration of crypto into the traditional financial landscape.   

An X user noted that the recent development could significantly impact the entire crypto market, particularly Latin America. Another mentioned that the launch could legitimize Bitcoin and other crypto assets in the sights of traditional investors who might have hesitated.   

Introducing Bitcoin to Customers

The launch of bitcoin trading seeks to offer the bank’s customers a smooth and secure access the world’s leading cryptocurrency. Customers will enjoy the convenience of handling and managing their Bitcoin transactions through their existing bank accounts alongside traditional financial services.    

As the largest bank in Latin America, adopting bitcoin trading could influence other banks worldwide to consider a similar strategy. The bank further noted that it has ensured that the trading process is user-friendly, transparent, and secure.     

Experts Bullish on Bitcoin

The development comes after Robert Kiyosaki, the famous American author of “Rich Dad Poor Dad”opined that BTC will reach an unprecedented high of $350,000 in the next two months.   

The famous author noted that his prediction about the digital asset is based on his extensive knowledge and experience, which has prompted him to advise investors to consider acquiring more bitcoin.  

Showing the growth and acceptance of bitcoin, an analyst in Standard Chartered Bank, Geoffrey Kendrick, also predicted that the digital asset will reach $100,000 to $150,000 by the end of the year.  

Furthermore, the healthcare company Semler Scientific acquired 581 BTC, valued at approximately $40 million. The firm also adopted bitcoin as its primary treasury reserve asset. The firm now holds 828 BTC worth $17 million and plans to invest $150 million more.    

At the time of writing, the crypto asset is trading below $70,000, with a market cap of $1,366.76 billion. Investors are hopeful about the digital asset’s rise.